Q4 2023 Financial Highlights: Revenue was RMB 9.23 billion, an increase of 11.8% quarter-on-quarter, and an increase of about 3% year-on-year, a record high single quarter in the company's history. Net profit was RMB 0.5 billion, an increase of 3.9% quarter-on-quarter. Generated RMB 1.4 billion cash from operations. With net capex investments of RMB 0.76 billion, free cash flow for the quarter was RMB 0.64 billion. Earnings per share was RMB 0.28. Full Year 2023 Financial Highlights: Revenue was RMB 29.66 billion. Net profit was RMB 1.47 billion. Generated RMB 4.44 billion cash from operations. With net capex investments of RMB 3.07 billion, free cash flow was RMB 1.37 billion. Earnings per share was RMB 0.82. SHANGHAI, April 18, 2024 /PRNewswire/ -- JCET Group (SSE: 600584), a leading global provider of integrated circuit (IC) back-end manufacturing and technology services, today announced its full year financial results for the year ended December 31, 2023. According to the financial report, in 2023 JCET achieved revenue of RMB 29.66 billion, and net profit of RMB 1.47 billion. In Q4 2023 JCET achieved revenue of RMB 9.23 billion, an increase of 11.8% quarter-on-quarter and an increase of about 3% year-on-year, a record high single quarter in the company's history; and net profit of RMB 0.5 billion, an increase of 3.9% quarter-on-quarter. In 2023, JCET effectively responded to market changes, focusing on high-performance advanced packaging, strengthening innovation and upgrading to achieve stable business development, the company's operations have continued to improve since Q2 2023, and performance rebounded quarter by quarter. JCET has continuously optimized asset structures, improved cash flow capability, and achieved positive free cash flow for 5 consecutive years from 2019 to 2023. JCET has achieved continuous breakthroughs in the field of advanced packaging technologies such as high-density system level packaging, large size flip chip packaging and wafer level packaging, and the proportion of advanced packaging revenue exceeded two-thirds of company's revenue. JCET continues to enhance its technological innovation, with R&D investment of RMB 1.44 billion in 2023, a year-on-year increase of 9.7%. The company has enhanced its overall solution and production capabilities towards application scenarios. In the fields of high-end communications, industrial electronics and wide bandgap semiconductors, JCET with its global customers have developed diversified innovative applications, with continuous increase of mass production introduction. JCET's automotive electronics business has maintained continuous expansion in technological achievements and number of customers in 2023, with revenue in this segment increasing by 68% year-on-year. At the same time, JCET accelerates the construction of its first automotive chip advanced packaging flagship factory in Shanghai. Mr. Li Zheng, CEO of JCET, said, "JCET continues to develop its core competitiveness, characterized by global customer diversification, professional management, and innovative internationalized operations. Strategic initiatives executed in 2023 have laid a solid foundation for steady growth in 2024 and the near future." For more information, please refer to the JCET FY2023 Report. About JCET Group JCET Group is the world's leading integrated-circuit manufacturing and technology services provider, offering a full range of turnkey services that include semiconductor package integration design and characterization, R&D, wafer probe, wafer bumping, package assembly, final test and drop shipment to vendors around the world. Our comprehensive portfolio covers a wide spectrum of semiconductor applications such as mobile, communication, compute, consumer, automotive and industry etc., through advanced wafer level packaging, 2.5D/3D, System-in-Packaging, and reliable flip chip and wire bonding technologies. JCET Group has two R&D centers in China and Korea, six manufacturing locations in China, Korea and Singapore, and sales centers around the world, providing close technology collaboration and efficient supply-chain manufacturing to customers in China and around the world.   CONSOLIDATED BALANCE SHEET (Audited)                                                                 RMB in millions Dec 31, 2023 Dec 31, 2022 ASSETS Current assets   Currency funds 7,325 2,459   Trading financial assets 2,306 4,316   Derivative financial assets 4 18   Accounts receivable 4,185 3,689   Receivables financing 38 59   Prepayments 104 110   Other receivables 87 61   Inventories 3,195 3,152   Other current assets 375 279 Total current assets 17,619 14,143 Non-current assets   Long-term receivables 33 40   Long-term equity investments 695 765   Other equity investments 447 440   Investment properties 86 89   Fixed assets 18,744 19,517   Construction in progress 1,053 807   Right-of-use assets 563 578   Intangible assets 662 483   Goodwill 2,248 2,210   Long-term prepaid expenses 17 28   Deferred tax assets 364 247   Other non-current assets 48 61 Total non-current assets 24,960 25,265 Total assets 42,579 39,408 LIABILITIES AND EQUITY   Dec 31, 2023 Dec 31, 2022 Current liabilities   Short-term borrowings 1,696 1,174   Notes payable 223 339   Accounts payable 4,782 4,634   Contract liabilities 185 214   Employee benefits payable 781 984   Taxes and surcharges payable 167 210   Other payables 354 378   Current portion of long-term liabilities 1,491 3,096   Other current liabilities 3 4 Total current liabilities 9,682 11,033 Non-current liabilities   Long-term borrowings 5,777 2,721   Lease liabilities 530 562   Long-term employee benefits payable